The order book of the Basque industry remains the same or improves slightly, and the prospects for invoicing are also positive.
The 16 Basque clusters, collected in the Industrial Situation Observatory (OCI), showed this Monday a positive outlook for the first part of 2024, with an overall forecast for Maintain or slightly improve your activity.
Today’s meeting included, in addition to officials from the Basque government, those responsible for the 16 organizations running the CAV clusters: aviation; to feed; automotive; bio Health; build; energy; railway; casting and forging; habitat, wood, office and contract; maritime industries; environment; paper; iron and steel industry; Advanced production technologies and knowledge; Transport, Mobility and Logistics.
This semi-annual meeting of the 16 industrial sectors of the Basque Autonomous Community (CAV) analyzes key indicators in terms of orders, invoicing, exports, employment and R&D&I investments.
As reported by the Ministry of Economic Development, Sustainability and Environment of the Basque Government in a note, in general terms, the order book of the Basque industry remains the same or improves slightly, with nine of the clusters expected to grow and only one cluster to shrink (the others expected to remain stable).
In the billingThe outlook is also positive: eight clusters foresee growth and seven clusters will maintain this growth, compared to only one cluster that foresees a decline. In the near future, the geopolitical situation and cost impact are worrying.
The export They follow a positive path as the clusters expect to maintain (8) or improve (7) their foreign trade in the coming semester, and only one cluster expects it to decline. After a generally positive 2023, expectations point to improvement or stability, despite possible geopolitical or economic challenges.
The predictions of employment opportunities They continue with an optimistic sign. After a semester in which 7 clusters improved slightly and 9 remained the same, the beginning of 2024 will end with the same figures. On the other hand, there are concerns about the difficulty of finding and retaining qualified personnel and technological profiles.
Finally the EWE will continue to rise as eight clusters expect to grow and as many others will maintain themselves. None of them plan to reduce their investments in research, development and innovation. The vectors driving many of the innovative projects are decarbonization, digitalization and adaptation to new, more advanced niches.
On the other hand, there is concern in the industry – and not only in the energy sector – because of the difficult challenge of electrical networks to absorb the increase in power necessary to respond to the consumption required by hydrogen, data, renewable energy sources or decarbonisation.
Source: EITB
I’m Wayne Wickman, a professional journalist and author for Today Times Live. My specialty is covering global news and current events, offering readers a unique perspective on the world’s most pressing issues. I’m passionate about storytelling and helping people stay informed on the goings-on of our planet.
